Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1887-09-22
IosEPA B. FORAKER.

B. Foraker opened the campaign here
to-day in the presence of a crowd of
thousands, with the following speech
which was loudly applauded:
FELLOW C1TIZENs-We meet here to-day
to open another canvass. We are to choose
this time only state and county officers. The
verdict to be rendered will do more, how
ever, than to determine whether we shall
have republican governor and legislature
for the next two years, 1t will have dis
tinct and positive effect upon the National
election that is to follow next year. For
this reason it is appropriate to discuss both
state and national questions. The import
ance of a Republican triumph, so far as the
state is concerned, can be well shown by re-
calling the condition of our affairs at the
close of Governor Hoadly's administration
and indicating what has been done to remedy
the same.
All are sufficiently familiar with our finan-
cial situation at that time to make 1t un-
necessary to dwell at length upon the sub
ject 1t should be remembered, however,
that the expenditures of that administration
SO far exceeded its revenues as to completely
exhaust them, and, in addition, to exhaust
also cash balance of S2S6, 900, turned over
to it by Governor Foster, and also 70 ex-
haust $780, 900 that belonged to the revenues
of 1856, which it appropriated by drawing
drafts upon county treasurers in anticipa-
ton of settlements The consequence was
that this administration commenced with
$500, 0G9 less money at its command than its
predecessor commenced Mr. Powell
claims that there was the sum of Sill, 222. 80
in the treasury when L was lnaugurated,
and that is all the denial he makes TO the
charge that they turned over to US an empty
treasury What l have heretofore said was
that there was no money in the treasury In
addition to what was necessary to meet the
immediate demands upon it, and if Mr.
Powell will consult the record he will find
that the obligations of the state already in
CURED and payable January Is, four days
after / was inaugurated, were in excess of
the balance of which he speaks. That is
bad enough, but it only partially tells the
story. We not only found this cond ion,
but we also found that they had left unpaid
appropriations for us to meet amounting to
the enormous sum of S9S2, 050. 9S, or almost
twice as large legacy of such Indebtedness
as was ever before transmitted by one ad-
ministration to another. Not only had there
been this excess of expenditures and appro-
priations, but there had been also a large
addition to the local Indebtedness of the
several counties and municipalities. This in
debtedness was increased during the years
1884 and 1885 by the amount of about S6,-
900, 000 And what was still more unfor-
tunate, while expenditures and debts were
thus largely increased, the sources of revenue
were largely reduced. The Scott law, which
administration, and which was yielding
from the taxation Of the liquor traffic about
81 000, 900 annually, all of which was de-
voted to relief from the burdens of local
taxation, had been in part repealed by act
OF the general assembly, and in its remain
ing part destroyed by Judicial decision. We
found also that during the two years of the
last administration the aggregate personal
property on the grand duplicate of the state
for taxation had decreased to the extent of
about $32, 900, 600, the decline ia this respect
being for the year 1885 about $4,000, 600.
This was greater than the total amount
added for the year on account of new struc-
lures, improvements, etc. In other words,
our burdens of taxation were growing
heavier and our ability to meet them was
diminishing. This was not due to a diminu-
tion of our wealth, for that, as all know,
was steadily and rapidly increasing, but to
the fact that by the increase of local in
debtedness and the consequent increase of
local taxation and the destruction of the
Scott law, the local rates of taxation were
necessarily increased to such an extent that
the people, as a last means of self-preserva-
tion, were seeking relief by lessening in
every way they possibly could the amount
of their returns of chattel property. 1t was
simply le Ultimate result of bad govern
ment Almost the first thing Governor
Hoadly told me after l was inaugurated
concerning state affairs was that they had
been compelled to draw in advance upon the
revenue of my administration as above
stated, and that in consequence the finan cal
condition of the state was such that it would
not be possible, without borrowing to meet
the current expenses of the state maturing
during the months of May, June and July
until the June collection Of taxes would be-
come available.
At that time the public bonded debt of
the state was as follows:
Maturing December 81, 1886, and
haa iprrR ra~r interest nnP
annum about. ........... s22lOOOO 90
Maturing july j. 1885, and bearing
per cent. interest per annum. S15OO0 %
Maturing July l. 1857, and bearing4
per cent. interest Ter apnum.-... 5OO OJO 10
Maturing July !, 1883, and bearing -
per cent. interest per annum. GOO OOJ 90
Total ......................... .s3715,GOO 90
The interest on this public bonie1 usoC
amounted annually to the sum of Sl13, 400.
Such, briefly stated, was the financial sit
uation when the present administration
commenced. We found it necessary, as
Governor Hoadly pointed out and for the
reason given by him, to borrow S50O,OO
This was less than half the amount neces-
sary to fully meet the deficiency and the
unusual burden of debt they had occa-
sionaI, bat we hoped to be able to get along
with it, and have managed so far TO do so.
ALI the current obligations of the state have
been promptly met, and we have paid or,
since this administration commenced, 4 per
cent bonds, maturing as above set forth t.
the amount of Ss75, 900. We have re-enacted
q statute. known as the Dow law, to take
the place of the Scott law, as we pledged
ourselves to do in the platform of 1885, by
which, in addition to its wise provisions for
the regulation Of the liquor traffic and the
suppression Of its evils, taxes have been and
Will be derived for the relief of the burdens
of local taxation TO the estimated amount Of
$4,000, 900 annually. We have made vigor-
GUS endeavors to secure a more complete and
just listing of personal property for taxa
ton, with the gratifying result Of stopping
the ruinous decline which was in progress at
the rate of S18, 600, 900 per annum during the
last year Of Governor Hoadlys administra-
ton, and securing instead an increase In
personal property for the year 1885 OF
about 81, 600, 6OO and of both personally and
real estate of about Sl9000,00D. This in
crease is new valuation, and upon it there
were collected last year of both local and
state taxes about 100000, To this extent